This weekend saw confirmation of the basic thesis for our investment strategy, which is that Global Investing makes sense. After all, we are www.global-investing.com.
After Wall Street hit a speed bump, almost all foreign markets continued, from a lower base, to rise further in April to date. The only exceptions, and there are rather few of them, are company-, sector-, currency-, or country-specific.
You can see the details if you are a paid subscriber at www.global-investing.com.. There are two subscriber tables, one for funds, and the other for individual stocks and bonds. The first is for new subscribers seeking rapid diversification across market with less money than the old-timers have (thanks to our performance). If you haven’t subscribed yet, you can see our closed positions. In both cases, to read the spreadsheets, use the “printer friendly” button even if you don’t want to print.
More international stock news follows:
The main reason our portfolio gained is that almost all currencies rose against the US$ last week. That is the flip side of Fed chief Janet Yellen reassuring the market that US interest rate rises will not necessarily start a year from now.
Now for the stocks which failed to gain…
The vapors hit Zurich Insurance (ZURVY) after the family of the CFO who committed suicide last summer made accusations at the annual meeting of the Swiss firm. Readers will recall that we averaged up (which newsletters tend not to do) to benefit from the first round of this scandale. It ultimately took down the former chairman of the Swiss insurer. That was a big result in the closed world of Swiss finance, but the widow wants more. This too shall pass. ZURVYÂ is worth buying more of since however unhappy the ex-CFO’s widow may be, it no longer vulnerable.
Worry about Internets took down Naspers, Tencent, and Liberty (both varieties, A and K). This is sector related. Worry about hotshot biotech overpricing afflicated Mallinckrodt and the contagion hit its former parent, Covidien. There may be further impact in Israel; Tel Aviv is closed on Fridays. Fear of pharma also affected Reckitt-Benckiser which is suffering also because it is focused (like many drug companies, although it is more a household goods firm) on emerging markets. NPSNY, TCTZF, and LBTYA can be bought on further weakness. COV, MNK, and RBGLY are buys now.
